OPEN-SOURCE SCRIPT
365 Day High Breakout Strategy
Updated
SCRIPT NOTES
- Strategy consists of 3 parameters :-
1. BUY on 365 day breakout (250 days taken in back-testing instead of 365 days considering weekends and other holidays in a year)
2. Moving averages (Noise Filtering condition )
3. RELATIVE STRENTH indicator (Original Author - tradingview.com/u/modhelius/ ) (Noise Filtering condition )
- Strategy works better on low volatile stocks.
- This strategy is for self improvement and concept sharing purpose only.
- Trading (including profit/loss) using this strategy is completely user's responsibility.
- Strategy consists of 3 parameters :-
1. BUY on 365 day breakout (250 days taken in back-testing instead of 365 days considering weekends and other holidays in a year)
2. Moving averages (Noise Filtering condition )
3. RELATIVE STRENTH indicator (Original Author - tradingview.com/u/modhelius/ ) (Noise Filtering condition )
- Strategy works better on low volatile stocks.
- This strategy is for self improvement and concept sharing purpose only.
- Trading (including profit/loss) using this strategy is completely user's responsibility.
Release Notes
STRATEGY UPDATE :-- Exit method modified to "ATR based" exit mechanism from earlier method of "fixed Target % and fixed Stop Loss % method".
- ATR based stop method keeps trailing the price as it moves up and keeps us in a trade till the trend lasts.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.